00-5274. Prices for Federal Home Loan Bank Services

AGENCY:

Federal Housing Finance Board.

ACTION:

Notice of prices for Federal Home Loan Bank Services.

SUMMARY:

The Federal Housing Finance Board (Board) is publishing the prices charged by the Federal Home Loan Banks (Banks) for processing and settlement of items (negotiable order of withdrawal or NOW), and demand deposit accounting (DDA) and other services offered to members and other eligible institutions.

EFFECTIVE DATE:

March 6, 2000.

FOR FURTHER INFORMATION CONTACT:

Gwen R. Grogan, Associate Director, Office of Supervision [phone]; or Edwin J. Avila, Financial Analyst, [phone]; Federal Housing Finance Board, 1777 F Street, N.W., Washington, DC 20006.

SUPPLEMENTARY INFORMATION:

Section 11(e) of the Federal Home Loan Bank Act (Bank Act) (12 U.S.C. 1431(e)) authorizes the Banks: (1) to accept demand deposits from member institutions; (2) to be drawees of payment instruments; (3) to engage in collection and settlement of payment instruments drawn on or issued by members and other eligible institutions; and (4) to engage in such incidental activities as are necessary to the exercise of such authority. Section 11(e)(2)(B) of the Bank Act (12 U.S.C. 1431(e)(2)(B)) requires the Banks to make charges for services authorized in that section, which charges are to be determined and regulated by the Board.

Section 975.6(c) of the Board's regulations (12 C.F.R. 975.6(c)) provides for the annual publication in the Federal Register of all prices for Bank services. The following fee schedules are for the Banks which offer item processing services to their members and other qualified financial institutions. Most of the remaining Banks provide other Correspondence Services which may include securities safekeeping, disbursements, coin and currency, settlement, electronic funds transfer, etc. However, these Banks do not provide services related to processing of items drawn against or deposited into third party accounts held by their members or other qualified financial institutions.

District 1.—Federal Home Loan Bank of Boston (2000 NOW/DDA Services)

(Services not provided)

District 2.—Federal Home Loan Bank of New York (2000 NOW/DDA Services)

(Does not provide item processing services for third party accounts)

District 3.—Federal Home Loan Bank of Pittsburgh (2000 NOW/DDA Services)

Deposit Processing Service (DPS)

Effective 1/1/2000

DPS Deposit Tickets $0.6500 per deposit

Printing of Deposit Tickets Pass-through

Deposit Items Processed

[Pricing varies—tiered by monthly volume]

For volumes of	Per item (transit)
1-25,000	$0.0407
25,001-58,500	0.0402
58,501-91,500	0.0397
91,501-125,000	0.0392
125,001-158,500	0.0377
158,501-191,500	0.0357
191,501 and over	0.0327

Deposit Items Encoded (West)

[Pricing varies—tiered by monthly volume]

For volumes of	Per item
1-25,000	$0.0398
25,001-58,500	0.0394
58,501-91,500	0.0390
91,501-125,000	0.0386
125,001-158,500	0.0373
158,501-191,500	0.0368
191,501 and over	0.0363

Deposit Items Encoded (East)

[Pricing varies—tiered by monthly volume]

For volumes of	Per item
1-25,000	$0.0352
25,001-58,500	0.0347
58,501-91,500	0.0342
91,501-125,000	0.0337
125,001-158,500	0.0322
158,501-191,500	0.0312
191,501 and over	0.0306

Deposit Items Returned	$18.0000	per item
Deposit Items Photocopied	3.9500	per photocopy
DPS Photocopies—Subpoena	21.0000	per hour of processing time,
plus	0.3000	per photocopy
Deposit Items Rejected (applicable to pre-encoded deposits only)	0.2300	per rejected item
Canadian Item Processing	5.2500	per item
All Foreign Collection Charges (Includes Foreign Collection Fees, Bought Foreign Collection Fees, Foreign Bank Processing Charges, and Foreign Check Courier Charges)		pass-through
Adjustments on DPS Deposits (applicable to pre-encoded deposits only)	3.00	per adjustment
Foreign Return Check Fee	35.0000	per item
DPS Transportation (West)	9.9500	per pickup
DPS Transportation (East)	9.9500	per pickup
Return Check Courier Service	145.0000	per month

Depository Account Services

On—US Returns Deposited:
Qualified Returns	$1.2000	per item
Raw Returns	4.5000	per item
Mail Deposits	5.7500	per deposit
Bond Collection:
Bearer	40.0000	per bond
Registered	50.0000	per bond
Bond Coupon Collection	8.2500	per envelope
Bond Coupon Returns	32.0000	per coupon
Deposit Transfer Vouchers	5.7500	per item

Electronic Funds Transfers

Incoming Wire Transfers	$6.2500	per transfer
Outgoing Wire Transfers (LINK)	7.0000	per transfer
Outgoing Wire Transfers (Manual)	10.7500	per transfer
Fax of Wire Transfer Advice	3.7500	per transfer
Internal Book Transfers (LINK)		No Charge
Internal Book Transfers (Manual)	1.1500	per transfer
Foreign Wire Surcharge	33.0000	′ *
Foreign Wire Tracers		pass-through
Mortgage Participation Service Fee	3.2000	per transfer
Expected Wires Not Received		penalty assessed **
* This surcharge will be added to the amount of the outgoing funds transfer to produce a single total debit to be charged to the customer's account on the date of transfer.
** Standard penalty is equivalent to the amount of the wire(s) times the daily IOD rate, divided by 360. If the wire not received causes the Bank to suffer any penalty, deficiency, or monetary loss, any and all related costs will also be assessed.

Automated Clearing House

ACH Transaction Settlement (CR/DR)	$0.3000	per transaction
ACH Cleared Through FHLB (CR/DR)	0.4000	per transaction
ACH Origination Items (CR/DR)	0.2200	per item
ACH Origination Record Set-Up	1.7500	per record
ACH Origination Items Returned	6.0000	per returned item
ACH Returns/NOCs—Facsimile	2.5000	per transaction
ACH Returns/NOCs—Telephone	4.0000	per transaction
ACH/FRB Priced Service Charges	0.3000	per transaction

Federal Reserve Settlement

FRB Statement Transaction (CR/DR)	$0.6000	per transaction
Reserve Requirement Pass-Thru	32.5000	per month (active)
Correspondent Transaction (DR)	0.6000	per transaction
Direct Send Settlement	152.5000	per month
FRB Inclearing Settlement	152.5000	per month
FRB Coin & Currency Settlement	50.0000	per month

Demand Deposit Services

Clearing Items Processed	$0.1600	per item
Clearing Items Fine Sorted (for return with Bank statements)	0.0800	per item
Reconcilement Copies—Manual	0.1100	per copy
Reconcilement Copies—MagTape	0.0540	per copy
Reconcilement MagTape Processing		Pass-through
Reconcilement Copies—Voided	0.0450	per copy
Check Photocopies—Mail	4.0000	per photocopy
Check Photocopies—Telephone/Fax	4.8500	per photocopy
Check Photocopies—Subpoena	0.7200	per photocopy
Stop Payment Orders	18.0000	per item
Stop Payment Cancellations	9.0000	per cancelled item
FRB Return Items Processed	0.4500	per item
FRB Return Items Qualified	0.2700	per item
FRB Return Items Over $2,500	6.0000	per item
Collections & Forgeries	18.0000	per item
Check Imprinting		Pass-through
Request for Fax / Photocopy	5.0000	per document/page

Check Processing (Inclearing)

Checks Processed

[Pricing varies—tiered by monthly volume]

For volumes of	Per item
1-25,000	$0.0469
25,001-58,500	0.0444
58,501-91,500	0.0417
91,501-125,000	0.0391
125,001-158,500	0.0362
158,501-191,500	0.0336
191,501-350,000	0.0298
350,001-500,000	0.0272
500,001 and over	0.0247

Full Backroom Service

(Item Processing Charges)

Non-Truncated Checks

[Pricing varies—tiered by monthly volume]

For volumes of	Per item
1-25,000	$0.0610
25,001-58,500	0.0600
58,501-91,500	0.0580
91,501-125,000	0.0565
125,001-158,500	0.0550
158,501-191,500	0.0535
191,501-350,000	0.0515
350,001-500,000	0.0475
500,001 and over	0.0445

Truncated Checks

[Pricing varies—tiered by monthly volume]

For volumes of	Per item
1-25,000	$0.0510
25,001-58,500	0.0500
58,501-91,500	0.0480
91,501-125,000	0.0465
125,001-158,500	0.0450
158,501-191,500	0.0435
191,501-350,000	0.0415
350,001-500,000	0.0375
500,001 and over	0.0345

Modified Backroom Service

(Item Processing Charges)

Non-Truncated Checks

[Pricing varies—tiered by monthly volume]

For volumes of:	Per item
1-25,000	$0.0510
25,001-58,500	0.0500
58,501-91,500	0.0480
91,501-125,000	0.0465
125,001-158,500	0.0450
158,501-191,500	0.0435
191,501-350,000	0.0415
350,001-500,000	0.0375
500,001 and over	0.0345

Truncated Checks

[Pricing varies—tiered by monthly volume]

For volumes of	Per item
1-25,000	$0.0410
25,001-58,500	0.0400
58,501-91,500	0.0380
91,501-125,000	0.0365
125,001-158,500	0.0350
158,501-191,500	0.0335
191,501-350,000	0.0315
350,001-500,000	0.0275
500,001 and over	0.0245

Image Services

Proof of Deposit (POD) Service

Pricing for each of these premium services is customer-specific, based upon individual service requirements; please call your Relationship Officer at [phone] for further information.

Check Processing (Associated Services)

Unidentified Items Processed	$2.0000	per item.
Over-The-Counter Items	0.1950	per item.
OTC Item Transportation	10.2500	per month.
Special Cycle Sorting	0.0240	per item.
Mid-Cycle Statement (Purged)	0.5700	per item (Min $2.85).
Mid-Cycle Stmt. (Non-Purged)	2.8500	per statement.
Statement Printing	0.0300	per page.
Statement Processing:
Statements using Generic Envelopes	0.0650	per envelope.
Statements using Custom Envelopes	0.1100	per envelope.
Statements using Large Envelopes	0.6650	per envelope.
Envelope Destruction Fee	0.0300	per envelope.
Additional Stuffer Processing	0.0285	per stuffer (one stuffer per statement free—applicable to all additional stuffers).
Selective Stuffer Processing	0.1100	per statement.
Daily Report Postage		Pass-through.
Statement Postage		Pass-through.
Standard Return Calls	1.5000	per item.
Automated Return Calls	0.2950	per item.
Return Calls via Link	0.7900	per item.
Late Return Calls	5.2500	per item.
FRB Return Items Processed	0.4500	per item.
FRB Return Items Qualified	0.2700	per item.
FRB Return Items Over $2,500	6.0000	per item.
Suspect Item Processing	5.2500	per suspect item.
Check Photocopies—Mail	4.0000	per photocopy.
Check Photocopies—Telephone/Fax	4.8500	per photocopy.
Check Photocopies—Subpoena	0.7200	per photocopy.
Signature Verification Copies	0.8500	per copy.
Check Retrieval	1.8000	per item.
MICRSort Option (Fixed Fee)	28.2500	per month.
MICRSort Option (per item)	0.0330	per item.
Collections & Forgeries	18.0000	per item.
MCPJ Microfiche Service	0.00225	per item.
(Min. $20.00, Max. $125.00)		Pass-through
Transportation

Coin and Currency Service

Western Service Area

Cash Orders	$2.5000	per order, plus:
Currency Orders	0.3450	per $1,000 *.
Coin Orders	2.8000	per box.
Currency Deposits	1.4000	per $1,000 *.
Coin Deposits	2.0000	per standard bag.
Coin Deposits (Non-Standard)	3.0000	per non-standard bag.
Coin Deposits (Unsorted)	9.0000	per mixed bag.
Food Stamp Deposits	2.0000	per $1,000 *.
Late Order Surcharge	10.0000	per order.
Coin Shipment Surcharge	0.2800	per excess bag **.
C&C Transportation (Zone W1)	18.5000	per stop.
C&C Transportation (Zone W2)	30.5000	per stop.
C&C Transportation (Zone W3)	42.5000	per stop.
C&C Transportation (Zone W4)		Negotiable***.
* Charges will be applied to each $1,000 ordered or deposited, and to any portion of a shipment not divisible by that standard unit.
** A surcharge will apply to each container (box/bag) of coin in an order/delivery after the first 20 containers.
*** Reserved for remote locations: delivery charges will be negotiated with the courier service on an individual basis.

Coin and Currency Service

Eastern Service Area

Cash Orders	$2.5000	per order, plus.
Currency Orders	0.3450	per $1,000 *.
Coin Orders	3.0500	per box.
Currency Deposits	1.4000	per $1,000 *.
Coin Deposits	2.0000	per standard bag.
Coin Deposits (Non-Standard)	3.0000	per non-standard bag.
Coin Deposits (Unsorted)	9.0000	per mixed bag.
Food Stamp Deposits	2.0000	per $1,000 *.
Late Order Surcharge	10.0000	per order.
Coin Shipment Surcharge	0.2800	per excess bag **.
C&C Transportation (Zone E1)	27.4000	per stop.
C&C Transportation (Zone E2)	38.2000	per stop.
C&C Transportation (Zone E3)	55.0000	per stop.
C&C Transportation (Zone E4)		Negotiable***.

Account Maintenance

Demand Deposit Accounts	$22.5000	per month, per account.
Cut-off Statements	12.5000	per statement.
Telephone Inquiry	2.3000	per telephone call.
Paper Advice of Transactions (DTS)	32.5000	per account, per month.
Daily Transaction Data via LINK		No Charge.

Monthly Minimum Charges

The Bank reserves the right to impose a monthly minimum charge for its services. The standard minimum will be $2,000 per month, applied against Check Processing, Deposit Processing, and/or Proof of Deposit Services. Pass-through items, such as postage and transportation, do not apply.

Account Overdraft Penalty

Greater of $75.00 per day and the daily interest on the amount of the overdraft.

(Rate used for calculation equal to the highest posted advance rate plus 3.0%.)

Requests for Programming Changes

Programming support for new services, enhancements to existing service levels, or servicer conversions requiring at least one hour of programmer time and/or equivalent FHLB expenses will be charged at a rate of $100.00 per hour, plus expenses.

Attention: Customers Receiving Transportation Charges Under Any Service

Rates and charges relative to transportation vary depending on the location of the office(s) serviced. Details regarding the pricing for the transportation to/from specific institutions or individual locations will be provided upon their subscription to that service.

Surcharges may be applicable and will be applied to the customer as effective and without prior notice.

District 4.—Federal Home Loan Bank of Atlanta (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 5.—Federal Home Loan Bank of Cincinnati (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 6.—Federal Home Loan Bank of Indianapolis (2000 NOW/DDA Services)

Fee Schedules

Checking Account Processing

I. Checking Account Service Transaction Charges

[Effective February 1, 2000]

Monthly volume	Safekeeping (per item)	Turnaround (daily or cycled) (per item)	Complete (per item)	Full service image\*\		Limited service image\*\
				per item	per statement	per item	per statement
0-5,000	$.054	$.0675	$.0875	$.06	$.40	$.02	$.40
5-10,000	.046	.0625	.0855	.06	.40	.02	.40
10-15,000	.045	.0585	.0835	.06	.40	.02	.40
15-25,000	.040	.0515	.0825	.06	.40	.02	.40
25-50,000	.039	.0475	.0805	.06	.40	.02	.40
50-75,000	.035	.0445	.0765	.06	.40	.02	.40
75-100,000	.032	.0415	.0755	.06	.40	.02	.40
100 and up	.030	.0385	.0745	.06	.40	.02	.40
Minimum processing fee of $40.00 per month will apply for total NOW services. Also included in the above fees—at no additional cost are Federal Reserve fees, incoming courier fees, software changes, disaster recovery, envelope discount and inventory.
* Image Monthly Maintenance Fee of $4500.00 for 0-32% of accounts; $300.00 for 33-49% of accounts; and $200.00 for 50%+ will be assessed for Image Statements.

II. Ancillary Service Fees

Large Dollar Signature Verification	$0.75
Over-the-counters and Microfilm	0.045
Return Items	2.40
Photocopies * and Facsimiles	2.50
Certified Checks	1.00
Invalid Accounts	0.65
Late Returns	0.50
Invalid Returns	0.50
No MICR/OTC	0.50
Settlement Only (per month)	100.00
+Journal Entries (each)	3.00
Encoding Errors	2.75
Fine Sort Numeric Sequence	0.02
Access to Infoline (per month)	50.00
High Dollar Return Notification	N/C
Debit Entries	N/C
Credit Entries	N/C
Standard Stmt. Stuffers (up to 2)**	N/C
Statement Stuffing Savings (Non DDA Accounts)	0.20
Minimum processing fee of $40.00 per month will apply for total NOW services. Also included in the above fees—at no additional cost are Federal Reserve fees, incoming courier fees, software changes, disaster recovery, envelope discount and inventory.
* Photocopy request of 50 or more are charged at an hourly rate of $15.00.
** Each additional (over 2) will be charged at $.02 per statement.

b. Demand Deposits Accounts/ACH

ITEM PROCESSING SERVICE FEES

Demand deposit clearings will have the following service charges:

Cash Management Service

Stop payments	6.00	per stop.
Photocopies	2.50	per copy.
Collection/Return/Exception	5.00
Daily Statement	2.00
Maintenance	30.00	per month.
Debit Entries	N/C
Credit Entries	N/C
ACH Fees:
Tape transmission or originations	$8.50	per tape.
NACHA, MPX		Actual Federal Reserve charges.
ACH entries clearing through our R&T number	.25	per item.
Settlement only	65.00	per month.
ACH returns/NOC	2.50	per item.
Collected balances will earn interest at CMS daily-posted rate.
Prices effective April 1, 1993.

c. Deposit Services

Federal Home Loan Bank of Indianapolis

Pre-encoded Items:
City	$0.045	per item.
RCPC	.055	per item.
Other Districts	.09	per item.
Unencoded	.15	per item.
Food Stamp	.14	per item.
Photocopies	2.50	per copy.
Adjustments on pre-encoded work	2.75	per error.
E Z Clear	.14	per item.
Coupons	8.25	per envelope.
Collections	6.00	per item.
Cash Letter	2.00	per cash letter.
Deposit Adjustments	2.00	per adjustment.
Debit Entries		N/C.
Credit Entries		N/C.
Microfilming		N/C.
Mortgage Remittance (Basic Service)	.35
Settlement only	100.00	per month.
+ Journal Entries	3.00	each.
Courier:
Indianapolis (city)	8.25	per location, per day, per pickup.
Outside Indianapolis		prices vary per location
N/C No Charge.

District 7.—Federal Home Loan Bank of Chicago (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 8.—Federal Home Loan Bank of Des Moines (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 9.—Federal Home Loan Bank of Dallas (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 10.—Federal Home Loan Bank of Topeka (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 11.—Federal Home Loan Bank of San Francisco (2000 NOW/DDA services)

 (Does not provide item processing services for third party accounts)

District 12.—Federal Home Loan Bank of Seattle (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

By the Federal Housing Finance Board.

William W. Ginsberg,

Managing Director.